Any failure to comply with this restriction may constitute a violation of U.S. securities laws.
Cascadero Copper Corporation
#395, 901 West Third Street, North Vancouver, B.C. V7P 3P9
Phone: 604 985 3327
Not for distribution to U.S. Newswire Services or for dissemination in the United States.
Any failure to comply with this restriction may constitute a violation of U.S. securities laws.
October 28, 2022 (TSXV:CCD)
CASCADERO COPPER CORPORATION ANNOUNCES
UPDATE ON THE PROPOSED JOINT VENTURE WITH GOLDEN MINERALS
INVOLVING THE DESIERTO I AND II CONCESSIONS IN ARGENTINA
North Vancouver, BC, Canada, October 28, 2022 – Cascadero Copper Corporation (“Cascadero”
or the “ Company”) (TSXV:CCD) has provided an update on the proposal to form a new joint
venture company (the “ Proposed Joint Venture ”) with Golden Minerals Company (“ Golden
Minerals”) with respect to the Desierto I and II concessions located in Salta, Argentina.
In mid-October 2022, Cascadero was informed by Golden Minerals that a recent ruling by the
Salta Mining Court to invalidate the Desierto I concession is being appealed and that a decision
on the appeal is not expected for approximately six months. By mutual agreement of the parties,
Golden Minerals manages the Desierto I and II concessions in which Cascadero has a one-third
interest.
Cascadero completed a rights offering on January 17, 2022 for gross proceeds of $1,500,649
and, as disclosed in the rights offering circular dated November 30, 2021, approximately $500,000
of the net proceeds would be used to participate in the Proposed Joint venture. At this time, this
amount remains allocated to be used for the Proposed Joint Venture, which is now on hold until
the appeal process to reinstate the Desierto I concession has been completed. Cascadero will
provide further updates on the Proposed Joint Venture and the Desierto I concession
reinstatement appeal as they develop.
The terms of the Proposed Joint Venture are set out in Cascadero’s news release dated
November 25, 2021.
About Cascadero Copper Corporation
Cascadero Copper Corporation is focused on the exploration and development of its properties
located in Salta, Argentina. The Company currently has a joint venture with Golden Minerals on
its Sarita Este license. In addition, the Company has newly appointed technical advisors to work
with the board and management to provide advice on exploration and development of the
Cascadero mineral properties in Argentina and on other future properties of merit. The Cascadero
research and development team that was instrumental in developing the patent-pending mineral
processing flowsheet on Taron mineral samples are expected to continue their work under the
guidance of the Board.
Cascadero Copper Corporation
#395, 901 West Third Street, North Vancouver, B.C. V7P 3P9
Phone: 604 985 3327
All material information on the Company may be found on its website at www.cascadero.com and
on SEDAR at www.sedar.com.
For further information, please contact:
Dr. George Gale
Interim CEO
Tel: 604-985-3327
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Cautionary Statement Regarding “Forward-Looking” Information.
This news release includes certain “forward-looking information” and “forward-looking statements”
(collectively “forward-looking statements”) within the meaning of applicable Canadian and United
States securities legislation including the United States Private Securities Litigation Reform Act of
1995. All statements, other than statements of historical fact, included herein, without limitation,
statements relating the future operating or financial performance of the Company, are forward-
looking statements.
Forward-looking statements are frequently, but not always, identified by words such as “expects”,
“anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or
statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be
achieved. Forward-looking statements in this news release relate to, among other things, the
appeal to reinstate the Desierto I concession, the completion and timing of the appeal, the
proposed joint venture with Golden Minerals, the use of proceeds from the rights offering, and
updates on the appeal and the proposed joint venture. Actual future results may differ materially.
There can be no assurance that such statements will prove to be accurate, and actual results and
future events could differ materially from those anticipated in such statements. Forward-looking
statements reflect the beliefs, opinions and projections on the date the statements are made and
are based upon a number of assumptions and estimates that, while considered reasonable by the
respective parties, are inherently subject to significant business, economic, competitive, political
and social uncertainties and contingencies. Many factors, both known and unknown, could cause
actual results, performance or achievements to be materially different from the results,
performance or achievements that are or may be expressed or implied by such forward-looking
statements and the parties have made assumptions and estimates based on or related to many of
these factors. Such factors include, without limitation, the risk that the appeal may not be
successful, the Company is not able to complete the proposed joint venture with Golden Minerals,
or the Company does not receive the approval or acceptance of the TSX Venture Exchange for
the proposed joint venture. Readers should not place undue reliance on the forward-looking
statements and information contained in this news release concerning these times. Except as
required by law, the Company does not assume any obligation to update the forward-looking
statements of beliefs, opinions, projections, or other factors, should they change.